Go Colors IPO to open on November 17: Check Details

The public subscription period for Go Fashion (India) Ltd's Rs 800-crore inaugural share-sale, which owns the women's apparel brand Go Colors, will begin on November 17. According to the red herring prospectus, the initial public offering (IPO) will end on November 22. (RHP).

According to the draft red herring prospectus (DRHP), the IPO will include a fresh issue of equity shares worth up to Rs 125 crore and an offer-for-sale of up to 12,878,389 equity shares by the promoter and existing shareholders.

PKS Family Trust and VKS Family Trust will each sell 7.45 lakh equity shares under the OFS, while Sequoia Capital India Investments would sell up to 74.98 lakh, India Advantage Fund S4 I will sell up to 33.11 lakh shares, and Dynamic India Fund S4 US I will sell up to 5.76 lakh shares.

PKS Family and VKS Family Trust each own 28.74 percent of the company, Sequoia Capital 28.73 percent, India Advantage Fund 12.69 percent, and Dynamic India Fund 1.1 percent.

The IPO is anticipated to raise Rs 800 crore, according to market sources.

The proceeds from the new offering will be used to fund the opening of 120 new exclusive brand locations, as well as to meet working capital needs and other business needs.

Go Colors Company details

Go Fashion (India) Limited, founded in 2010, is one of India's largest women's bottom-wear brands. In terms of colours and styles, the company has one of the most diverse portfolios of bottom-wear products among women's apparel merchants. Go Colors sold bottom-wear in over 50 designs and 120 colours as of May 31, 2021.